Easy Asset Management To Be Listed By End of Year

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Easy Asset Management To Be Listed By End of Year

Easy Asset Management has decided to file an IPO by the end of the year, becoming the first non-banking credit institution on the Bulgarian Stock Exchange.

BenchMark has been appointed as IPO consultant. Easy Asset Management is a provider of small, short-term consumer credits.

Last year revenues grew 342% y/y to 7.065 mln leva (3.612 mln euros). Net profit rose 9 times to 1.68 mln leva (approx. 858,970 euros).

In 2007 return on own capital stood at 96%, compared with 28% a year ago.

Assets stand at 9.029 mln leva (4.616 mln euros) and core capital is at 1 mln leva (approx. 511,291 euros). At the end of 2007 own capital amounted to 2.844 mln leva (1.454 mln euros).

Last year the company provided 31,424 credits, versus 9,221 in 2006. The total size of loans trebled to 19.18 mln leva (9.806 mln euros) in 2007.

Easy Asset Management employs 676 people. The company will use the IPO proceeds for expansion, enlargement of the credit portfolio and development of new products.

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